FinancialContent is the trusted provider of stock market information to the media industry.
November 15, 2010 at 17:43 PM EST
Bullet Holding Corporation Announces Transfer of 5,979,251 Common Shares of Continental Gold Limited

MEDELLIN, COLOMBIA -- (Marketwire) -- 11/15/10 -- Bullet Holding Corporation ("Bullet") announces that effective November 15, 2010, Robert W. Allen caused Bullet to transfer a total of 5,979,251 common shares of Continental Gold Limited ("Continental Gold") pursuant to private transactions with third parties. Continental Gold Limited is a reporting issuer in Canada with common shares listed on the Toronto Stock Exchange under the trading symbol, "CNL". Robert W. Allen is the Chairman and a director of Continental Gold, and Mr. Allen controls Bullet.

Before giving effect to these transfers and including the holdings of Bullet, Robert W. Allen had indirect ownership of a total of 33,958,882 common shares of Continental Gold representing a total of 35.2% of the issued and outstanding common shares of Continental Gold as a result of his control of the following companies which own shares of Continental Gold: Bullet Holding Corporation (28,111,655 Shares); Coastal Financing Corp. (3,707,411 Shares); Reindeer Capital Limited (1,817,864 Shares); and Grupo de Bullet S.A. (321,952 Shares).

In addition, Mr. Allen owns options and warrants to acquire 1,626,774 common shares which increases his indirect ownership to a total of 36.3% of the issued and outstanding common shares of Continental Gold on a partially diluted basis, before giving effect to these transfers.

As a result of these transfers and including the holdings of Bullet, Robert W. Allen currently has indirect ownership of a total of 27,979,631 common shares of Continental Gold representing a total of 29.0% of the issued and outstanding common shares of Continental Gold as a result of his control of the following companies which own shares of Continental Gold: Bullet Holding Corporation (22,132,404 Shares); Coastal Financing Corp. (3,707,411 Shares); Reindeer Capital Limited (1,817,864 Shares); and Grupo de Bullet S.A. (321,952 Shares). On a partially diluted basis and after giving effect to these transfers, Mr. Allen has indirect ownership of a total of 30.2% of the issued and outstanding common shares of Continental Gold.

These transfers of common shares of Continental Gold occurred in private transactions entered into for the purpose of acknowledging the efforts of business and other associates made directly and indirectly in the founding and development of Continental Gold. The transfers were made for an indeterminate value.

For the purposes of National Instrument 62-103 early warning reporting, the address of Robert W. Allen is Carerra 32, 12A-11, Medellin, Antioquia, Colombia. Mr. Allen holds common shares of Continental Gold for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over common shares or other securities of Continental Gold, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

Contacts:
Gary P. Barket
Attorney
(501) 217-0400
gary@garybarketlaw.com

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here
   
Financial Widgets

Display market data, financial news or stock quotes - Learn More

Advertising Network

Advertise on FinancialContent's huge network - Learn More

Web Services

Power your internet and wireless applications - Learn More